All You Need To Know Going Into Trade On May 20
Pedestrians exit an escalator that runs past an electronic screen and ticker board that indicates stock figures at the Singapore Exchange Ltd. (Photographer: Bryan van der Beek/Bloomberg)

All You Need To Know Going Into Trade On May 20

Asian stocks were steady early Thursday as investors weighed Federal Reserve minutes that flagged the possibility of a debate on scaling back asset purchases. Treasury yields and the dollar held an advance.

Benchmarks fluctuated in Japan and Australia, and fell in South Korea. U.S. futures edged down after the S&P 500 fell a third day. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.2% to 15,065.50 as of 7:10 a.m.

The minutes indicated some Fed officials may be open “at some point” to discussing adjustments to the pace of massive bond purchases if the U.S. economy keeps progressing rapidly.

The benchmark 10-year Treasury yield was steady after climbing to 1.67%. Commodity prices slid amid mounting concern about inflation and potential curbs on monetary stimulus.

Oil stabilised after slumping to the lowest in three weeks with traders also concerned about growing supply from the U.S. and Iran.

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All You Need To Know Going Into Trade On May 20

Stocks To Watch

  • Axis Bank: OFS for non-retail investors gets 4 times the demand as compared to the shares on offer. OFS for retail investors to open today. SUUTI will exercise the oversubscription option to sell another 0.74% stake in the bank.
  • Sintex Industries: The company's plant situated at Lunsapur in Gujarat has been damaged due to Cyclone Tauktae. The quantum of loss and estimated impact on the production due to the cyclone is being determined, the company said.
  • Shree Pushkar Chemicals & Fertilisers: The company's plant situated at Ratnagiri in Maharashtra has been damaged due to Cyclone Tauktae, resulting in a temporary suspension of production at Unit I to V.
  • lndo Rama Synthetics (India): Approved capex plan up to Rs 600 crore in the company and its wholly-owned subsidiary at Butibori in Nagpur towards the addition of balancing equipment, manufacturing of specialty yarns and to install a 700 TPD PET Resin manufacturing facility.
  • Tata Steel: Fitch upgrades rating to BB with a stable outlook.
  • Earnings to watch: HPCL, Brookfield India Real Estate Trust REIT, Bosch, Cosmo Films, Disa India, Electrosteel Castings, EPL, Expleo Solutions, Gujarat Industries Power Co., Havells India, IndInfravit Trust, JK Lakshmi Cement, KNR Constructions, Meghmani Organics, Plastiblends India, Music Broadcast, Relaxo Footwears, The Investment Trust Of India, Torrent Power, Ultramarine & Pigments, Usha Martin, Zee Entertainment Enterprises

Earnings Post Market Hours

Indiabulls Housing Finance Q4FY21 (QoQ)

  • NII down 4% at Rs 777.58 crore Vs Rs 807.21 crore
  • Net profit down 16% at Rs 276.23 crore Vs Rs 329.32 crore
  • GNPA at 2.66% Vs 2.44%
  • NNPA at 1.59% Vs 1.46%
  • Declared an interim dividend of Rs 9 per share. The record date for the same is May 31.

Endurance Technologies Q4FY21 (QoQ)

  • Revenue up 5% at Rs 2,132.80 crore Vs Rs 2,040.80 crore
  • Net profit down 1% at Rs 187.20 crore Vs Rs 190 crore
  • Ebitda down 6% at Rs 332 crore Vs Rs 352 crore
  • Ebitda margin at 15.6% Vs 17.2%
  • Recommended dividend of Rs 6 per share for FY21

JK Tyre & Industries Q4FY21 (QoQ)

  • Revenue up 6% at Rs 2,927.28 crore Vs Rs 2,769.28 crore
  • Net profit down 16% at Rs 189.12 crore Vs Rs 224.09 crore
  • Ebitda down 9% at Rs 454.67 crore Vs Rs 500.39 crore
  • Ebitda margin at 15.5% Vs 18.1%
  • Recommended a dividend of Rs 2 per share for FY21

Tanla Platforms Q4FY21 (Consolidated, QoQ)

  • Revenue down 1% at Rs 648.55 crore Vs Rs 654.11 crore
  • Net profit up 10% at Rs 102.53 crore Vs Rs 93.51 crore
  • Ebitda up 6% at Rs 134.03 crore Vs Rs 126.88 crore
  • Ebitda margin at 20.7% Vs 19.4%
  • Recommended final dividend of Re 1 per share

Pledge Share Details

  • Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 5.55 lakh shares between May 14-18.
  • Jindal Steel & Power: Promoter Opelina Sustainable Services revoked pledge of 31 lakh shares between May 11-12.
  • Gateway Distriparks: Promoter Prism International revoked pledge of 39 lakh shares on May 18.As reported on May 19.

Bulk Deals

  • Coforge: Hulst BV sold 31 lakh shares (5.12%) at Rs 3,250.58 per share.
  • Best Agrolife: Elara India Opportunities Fund sold 1.78 lakh shares (0.81%) at Rs 205.99 per share.

Insider Trades

  • Godrej Agrovet: Promoter Godrej Industries bought 33,341 shares on May 14.

Who's Meeting Whom

  • INOX Leisure: To meet UTIMF on May 20.
  • KEC International: To meet DAM Capital Advisors on May 20.
  • UTI Asset Management Company: To meet Enam Investment on May 20.
  • Mahindra Holidays & Resorts India: To meet Incred Capital on May 24 and Theleme Partners on May 25.

Trading Tweaks

  • Ex-Date Bonus Issue: IRCON International
  • Ex-Date Income Distribution RITES: Mindspace Business Parks REIT
  • Ex-Date Rights Issue: Vikas Lifecare
  • Ex-Date Stock Split: Jost's Engineering
  • Record Date Income Distribution: IRB InvIT Fund
  • Price Band Revised From 20% To 10%: Gokaldas Exports, Indo Rama Synthetics (India), Praj Industries
  • Price Band Revised From 20% To 10%: Gokaldas Exports, Indo Rama Synthetics (India), Praj Industries
  • Move Into Short-Term ASM Framework: Birla Corporation, Venky's (India), Nitin Spinners, Indo Rama Synthetics (India)
  • Move Out Of Short-Term ASM Framework: Apcotex Industries
  • Move Into ASM Framework: Best Agrolife, PTC India

Money Market Update

  • The rupee ended at 73.16 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 73.04.

F&O Cues

  • Nifty May futures ended at 15,048.55; premium of 18.4 points.
  • Nifty May futures shed 2.89% and 4,253 shares in Open Interest
  • Nifty Bank May futures ended at 33,815.20; premium of 130 points
  • Nifty Bank May futures shed 3.28% and 2,155 shares in Open Interest
  • Securities out of the ban list: BHEL, PNB and Sun TV
  • Securities that continue to be on the ban list: Nalco, Cadila Healthcare and SAIL
All You Need To Know Going Into Trade On May 20
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